Third quarter sales figures are in for the Santa Fe residential real estate market, and pardon us if they look almost exactly like the 2015 figures, because they are much the same. We are on the mesa top where it not only looks flat, it is flat. Compare one month, one quarter or an annual rolling total and you will see that our growth in sales units has leveled off to the point that there is no real growth.
Median home sale prices have inched upwards a bit. That can be good for sellers wanting a larger piece of pie leftover after the ravages of contract negotiations and objections. It can make it slightly more competitive for buyers, although that trend is not building any momentum. It is reality that flat is the new normal right now. Variations from a year ago are so small one can barely see change in progress.
But sales are still sales and we enjoyed them to the tune of more than 1950 sales in the most recent complete 12 month cycle. This reflects home sales in Santa Fe city and county. The additional areas our Realtor Association serves (Los Alamos, Espanola, Pecos, etc) includes additional sales adding about 10% to the numbers you will see in the Absorption Rate charts available within this blog site.